Featured

More "Prophetic Previews" Accelerating in the Headlines

Ford Aims to Cut Global Workforce by Roughly 10%

Ford MotorCo.F 0.18% is planning substantial cuts to its global workforce amid Chief Executive Officer Mark Fields drive to boost profits and address the auto maker’s sliding stock price, according to people briefed on the plan. The move comes as Ford targets $3 billion in cost cuts for 2017, a plan aimed at improving profitability in 2018 even as U.S. auto sales

plateau. Ford’s share price has suffered during Mr. Fields’s three-year tenure, and the company’s market value has slipped far behindTeslaInc.TSLA -2.75% and General MotorsCo. The job cuts, expected to be outlined as early as this week, largely target salaried employees and aim to reduce the global head count by an equivalent of about 10%, these people said. It is unclear if the plan includes cuts to the hourly workforce at Ford’s U.S. factories and plants that are abroad. READ MORE

Share:

Rate:

If you are blessed and informed by this Ministry, Please consider a generous gift of any amount to help us remain strong and on the leading edge of helping many be equipped, informed and edified.